Tec-source Ltd

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tec-source ltd Company Information

Live

EstablishedSmallDeclining

Company Number

SC341198

Website

http://tec-source.co.uk

Registered Address

unit 19 alexander stephen house, holmfauld road, glasgow, G51 4RY

Industry

Temporary employment agency activities

Telephone

01419453042

Next Accounts Due

June 2024

Group Structure

View All

Directors

Simon Breen5 Years

Edward Annand4 Years

View All

Shareholders

ace recruitment services ltd 100%

tec-source ltd Estimated Valuation

£107.8k - £819.6k

The estimated valuation range for tec-source ltd, derived from financial data as of September 2022 and the most recent industry multiples, is between £107.8k to £819.6k

Get a detailed valuation report, edit figures and unlock valuation multiples.

Tec-source Ltd AI Business Plan

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Tec-source Ltd is a live company located in glasgow, G51 4RY with a Companies House number of SC341198. It operates in the temporary employment agency activities sector, SIC Code 78200. Founded in April 2008, it's largest shareholder is ace recruitment services ltd with a 100% stake. Tec-source Ltd is a established, small sized company, Pomanda has estimated its turnover at £4.6m with declining growth in recent years.

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Pomanda's financial health check has awarded Tec-Source Ltd a 2 rating. We use a traffic light system to show it exceeds the industry average on 1 measures and has 7 areas for improvement. Company Health Check FAQs

Health Rating2out of 5

1 Strong

3 Regular

7 Weak

Size

annual sales of £4.6m, make it smaller than the average company (£12.3m)

Growth

3 year (CAGR) sales growth of -9%, show it is growing at a slower rate (0.4%)

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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TEC-SOURCE LTD group structure

Tec-Source Ltd has no subsidiary companies.

Ultimate parent company

TEC-SOURCE LTD

SC341198

TEC-SOURCE LTD Shareholders

ace recruitment services ltd

100%

Tec-Source Ltd currently has 4 directors. The longest serving directors include Mr Simon Breen (Sep 2018) and Mr Edward Annand (Oct 2019).

officer	country	age	start	end	role
Mr Simon Breen		52 years	Sep 2018	-	Director
Mr Edward Annand	Scotland	51 years	Oct 2019	-	Director
Mr Robert Dunn	Scotland	44 years	Oct 2019	-	Director
Mr Stephen Flynn	Scotland	46 years	Jan 2023	-	Director

EXPORT

Tec-Source Ltd's latest turnover from September 2022 is estimated at £4.6 million and the company has net assets of £61.8 thousand. According to their latest financial statements, Tec-Source Ltd has 8 employees and maintains cash reserves of £90.8 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Sep 2022	Sep 2021	Sep 2020	Sep 2019	Sep 2018	Apr 2018	Apr 2017	Apr 2016	Apr 2015	Apr 2014	Apr 2013	Apr 2012	Apr 2011	Apr 2010
Turnover	4,610,246	5,916,313	3,909,764	6,042,916	333,703	485,021	2,209,071	2,135,889	11,472,743	9,542,619	5,111,673	5,559,980	2,918,156	1,220,050
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	3,803,260	5,007,671	3,278,665	5,023,196	275,823	401,104	1,824,725	1,770,438	9,465,003	7,830,163	4,202,568	4,579,266	2,373,491	975,231
Gross Profit	806,986	908,641	631,099	1,019,721	57,880	83,917	384,346	365,450	2,007,740	1,712,457	909,106	980,713	544,666	244,819
Admin Expenses	756,960	781,056	647,276	954,463	72,922	111,769	394,743	573,340	1,866,995	1,703,372	917,193	884,145	560,347	152,401
Operating Profit	50,026	127,585	-16,177	65,258	-15,042	-27,852	-10,397	-207,890	140,745	9,085	-8,087	96,568	-15,681	92,418
Interest Payable	63,611	31,661	31,456	24,347	0	0	0	0	0	0	0	0	0	0
Interest Receivable	1,048	32	76	369	192	188	189	1,132	1,065	1,204	2,182	1,788	966	359
Pre-Tax Profit	-12,537	95,956	-47,557	41,280	-14,850	-27,664	-10,208	-206,758	141,810	10,289	-5,905	98,357	-14,715	92,776
Tax	0	-18,232	0	-7,843	0	0	0	0	-28,362	-2,161	0	-23,606	0	-25,977
Profit After Tax	-12,537	77,724	-47,557	33,437	-14,850	-27,664	-10,208	-206,758	113,448	8,128	-5,905	74,751	-14,715	66,799
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	-12,537	77,724	-47,557	33,437	-14,850	-27,664	-10,208	-206,758	113,448	8,128	-5,905	74,751	-14,715	66,799
Employee Costs	375,592	332,987	329,005	156,618	116,117	154,856	845,342	341,474	1,586,439	1,275,000	744,947	806,779	385,879	212,765
Number Of Employees	8	8	8	4	3	4	22	9	42	34	20	22	11	6
EBITDA*	50,026	128,506	-10,710	71,650	-14,514	-26,585	-9,130	-206,623	142,012	10,352	-8,087	96,568	-15,311	92,788

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Sep 2022	Sep 2021	Sep 2020	Sep 2019	Sep 2018	Apr 2018	Apr 2017	Apr 2016	Apr 2015	Apr 2014	Apr 2013	Apr 2012	Apr 2011	Apr 2010
Tangible Assets	1	1	922	5,006	5,816	6,344	7,611	8,878	10,145	11,412	12,679	11	11	381
Intangible Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments & Other	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtors (Due After 1 year)	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Fixed Assets	1	1	922	5,006	5,816	6,344	7,611	8,878	10,145	11,412	12,679	11	11	381
Stock & work in progress	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Trade Debtors	896,197	1,002,475	448,943	872,483	22,378	36,545	131,340	202,767	481,362	531,028	68,334	75,670	50,325	23,795
Group Debtors	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Misc Debtors	3,470	10,856	18,462	106,188	0	0	0	0	0	0	0	0	0	0
Cash	90,785	2,347	61,380	90,852	7,627	31,603	43,645	107,855	344,828	81,050	400,488	472,288	243,015	143,462
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	990,452	1,015,678	528,785	1,069,523	30,005	68,148	174,985	310,622	826,190	612,078	468,822	547,958	293,340	167,257
total assets	990,453	1,015,679	529,707	1,074,529	35,821	74,492	182,596	319,500	836,335	623,490	481,501	547,969	293,351	167,638
Bank overdraft	778,753	681,869	259,953	721,406	0	0	0	0	0	0	0	0	0	0
Bank loan	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Trade Creditors	22,251	68,908	86,137	148,831	0	0	0	71,195	593,825	494,428	360,567	421,130	241,263	100,837
Group/Directors Accounts	49,760	52,760	52,760	52,760	0	43,616	0	0	0	0	0	0	0	0
other short term finances	0	0	0	0	0	0	0	0	0	0	0	0	0	0
hp & lease commitments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other current liabilities	42,724	91,588	84,283	107,401	25,127	5,127	157,052	212,553	0	0	0	0	0	0
total current liabilities	893,488	895,125	483,133	1,030,398	25,127	76,612	157,052	283,748	593,825	494,428	360,567	421,130	241,263	100,837
loans	35,204	46,256	50,000	0	0	0	0	0	0	0	0	0	0	0
hp & lease commitments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accruals and Deferred Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other liabilities	0	0	0	0	0	0	0	0	0	0	0	0	0	0
provisions	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total long term liabilities	35,204	46,256	50,000	0	0	0	0	0	0	0	0	0	0	0
total liabilities	928,692	941,381	533,133	1,030,398	25,127	76,612	157,052	283,748	593,825	494,428	360,567	421,130	241,263	100,837
net assets	61,761	74,298	-3,426	44,131	10,694	-2,120	25,544	35,752	242,510	129,062	120,934	126,839	52,088	66,801
total shareholders funds	61,761	74,298	-3,426	44,131	10,694	-2,120	25,544	35,752	242,510	129,062	120,934	126,839	52,088	66,801

	Sep 2022	Sep 2021	Sep 2020	Sep 2019	Sep 2018	Apr 2018	Apr 2017	Apr 2016	Apr 2015	Apr 2014	Apr 2013	Apr 2012	Apr 2011	Apr 2010
Operating Activities
Operating Profit	50,026	127,585	-16,177	65,258	-15,042	-27,852	-10,397	-207,890	140,745	9,085	-8,087	96,568	-15,681	92,418
Depreciation	0	921	5,467	6,392	528	1,267	1,267	1,267	1,267	1,267	0	0	370	370
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax	0	-18,232	0	-7,843	0	0	0	0	-28,362	-2,161	0	-23,606	0	-25,977
Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtors	-113,664	545,926	-511,266	956,293	-108,962	-108,962	-71,427	-278,595	-49,666	462,694	-7,336	25,345	26,530	23,795
Creditors	-46,657	-17,229	-62,694	148,831	0	0	-71,195	-522,630	99,397	133,861	-60,563	179,867	140,426	100,837
Accruals and Deferred Income	-48,864	7,305	-23,118	82,274	-131,925	-151,925	-55,501	212,553	0	0	0	0	0	0
Deferred Taxes & Provisions	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash flow from operations	68,169	-445,576	414,744	-661,381	-37,477	-69,548	-64,399	-238,105	262,713	-320,642	-61,314	227,484	98,585	143,853
Investing Activities
capital expenditure	0	0	-1,383	-5,582	1,267	0	0	0	0	0	-12,668	0	0	-751
Change in Investments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
cash flow from investments	0	0	-1,383	-5,582	1,267	0	0	0	0	0	-12,668	0	0	-751
Financing Activities
Bank loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Group/Directors Accounts	-3,000	0	0	52,760	0	43,616	0	0	0	0	0	0	0	0
Other Short Term Loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long term loans	-11,052	-3,744	50,000	0	0	0	0	0	0	0	0	0	0	0
Hire Purchase and Lease Commitments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other long term liabilities	0	0	0	0	0	0	0	0	0	0	0	0	0	0
share issue	0	0	0	0	0	0	0	0	0	0	0	0	2	2
interest	-62,563	-31,629	-31,380	-23,978	192	188	189	1,132	1,065	1,204	2,182	1,788	966	359
cash flow from financing	-76,615	-35,373	18,620	28,782	192	43,804	189	1,132	1,065	1,204	2,182	1,788	968	361
cash and cash equivalents
cash	88,438	-59,033	-29,472	83,225	-36,018	-12,042	-64,210	-236,973	263,778	-319,438	-71,800	229,273	99,553	143,462
overdraft	96,884	421,916	-461,453	721,406	0	0	0	0	0	0	0	0	0	0
change in cash	-8,446	-480,949	431,981	-638,181	-36,018	-12,042	-64,210	-236,973	263,778	-319,438	-71,800	229,273	99,553	143,462

P&L

September 2022

turnover

4.6m

-22%

operating profit

50k

gross margin

17.6%

+13.97%

turnover

Turnover, or revenue, is the amount of sales generated by a company within the financial year.

Balance Sheet

September 2022

net assets

61.8k

-0.17%

total assets

990.5k

-0.02%

cash

90.8k

+37.68%

net assets

Total assets minus all liabilities

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company number

SC341198

Type

Private limited with Share Capital

industry

78200 - Temporary employment agency activities

incorporation date

April 2008

age

accounts

Total Exemption Full

ultimate parent company

None

previous names

N/A

incorporated

address

unit 19 alexander stephen house, holmfauld road, glasgow, G51 4RY

last accounts submitted

September 2022

A charge, or mortgage, refers to the rights a company gives to a lender in return for a loan, often in the form of security given over business assets.

We found 4 charges/mortgages relating to tec-source ltd. Currently there are 1 open charges and 3 have been satisfied in the past.

tec-source ltd Company Information

tec-source ltd Estimated Valuation

tec-source ltd Estimated Valuation

tec-source ltd Estimated Valuation

Tec-source Ltd AI Business Plan

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tec-source ltd Ownership

tec-source ltd directors

TEC-SOURCE LTD financials

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